Good news from the Companies Registrar in regards to the registration of new companies. Last July, the number of applications for the registration of new companies has been the highest for 16 months.
The Companies Registrar received within July 1.138 applications for the formation of new companies. In July 2013 the Registrar had only received 908 such applications. This amounts to an increase of 25.3% and the highest number of companies registered in a month since March 2013 when the so-called ‘haircut’ had been decided.
July is the fifth month in a row where there is an increase on a yearly basis of the number of new companies being registered. Before March 2013, each month there would be around 1200-1700 new companies registered. The number of registrations this last July is close to those numbers before the Eurogroup. These news mark a positive development and a reminder that Cyprus remains an important and very attractive financial centre.